It does look like a firecracker, but that's still funny as hell. And the guy throwin water on it at the end... I've wanted to do that to my friends computer for a long ass time!
think these guys have some other videos on google doing the same sort of thing.
there is one of them with a motherboard and all the components just sitting on a wooden table, they overclock it and the CPU blows up leaving a hole in the motherboard and the table which it was on.
The title of the clip is "Extreme RAID Failure". The video card had nothing to do with it. Can't tell if the "explosion" was doctored or not, but it was a HDD.
I test software and hardware and have blown my fair share of Power Supplies and hard drives, but never anything like that.